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From The Greek Word

Business ethics refers to a code of conduct that guides businesspeople in their dealings with customers, shareholders, employees, suppliers, government, and competitors. It aims to differentiate between right and wrong behavior based on moral principles like honesty, fairness, and social responsibility. Key factors of business ethics include a code of conduct for businesses to follow, upholding moral and social values like treating people with dignity, and prioritizing the interests of society over profits.

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31 views1 page

From The Greek Word

Business ethics refers to a code of conduct that guides businesspeople in their dealings with customers, shareholders, employees, suppliers, government, and competitors. It aims to differentiate between right and wrong behavior based on moral principles like honesty, fairness, and social responsibility. Key factors of business ethics include a code of conduct for businesses to follow, upholding moral and social values like treating people with dignity, and prioritizing the interests of society over profits.

Uploaded by

Sathish Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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from the Greek word ethos which refers to character.

The term ethics refers to a code of conduct that guides an individual while dealing with others. It relates to social rules and cardinal values that motivate people to be honest in dealing with others. Ethics direct human behavior and also differentiates between good and bad, right and wrong fair and unfair human behavior or actions. What is business Ethics? Business Ethics refers to the system of moral principal applied to business activities. It deals with morality in the business. There should be ethics behind every business activity. This means business activities should be conducted according to certain self recognized moral standards. Business ethics refers to a code of which businessmen are expected to follow while dealing with others. The coverage of business ethics is very wide as it deals norms relating with customers, shareholders, employees, dealers, Government and competitors. These are, in fact, different area of business ethics. Business ethics is a part of social responsibility which the businessmen have to honour in practice. According to Wheeler Business Ethics is an art or scien ce of maintaining harmonious relationship with society, its various groups and institutions as well as reorganizing the moral responsibility for the rightness or wrongness of business conduct. According to Dr. C.B. Mamoria and Dr. Satish Mamoria, business ethics is defined as businessmans integrity so far as his conduct or behavior is concerned in all fields of business as well as towards the society and other business. Factors of Business Ethics:1. Code of conduct;- it is the code of conduct which businessmen should follow while conducting their normal business activities. 2. Moral and social values:- it is based on well accepted moral and social values. It suggests moral principles/rules of conduct for businessmen. They include self-control, service t society, fair treatment to social groups and not to harm/exploit others. 3. Protection of social groups:- business should give priority to social interest or social good. Such ethical approach creates good name and status to business and facilitates its expansion.

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